Investor TCA Global Credit Master Fund also gets 106,837 common shares
By Devika Patel
Knoxville, Tenn., Sept. 28 - ePunk, Inc. entered into a $2 million revolving credit facility with TCA Global Credit Master Fund, LP on Aug. 31, according to an 8-K filed Friday with the Securities and Exchange Commission. The company drew down $300,000 from the facility on Sept. 25.
The revolver matures in six months and bears interest at 11% per year.
TCA also received 106,837 common shares.
Proceeds will be used for general corporate purposes.
The San Clemente, Calif., company markets and distributes motor bikes, gas and electric motor scooters, all-terrain vehicles, Go Karts, dirt-bikes, bicycles and related accessories
| Issuer: | ePunk, Inc.
|
| Issue: | Revolving credit facility, 106,837 common shares
|
| Amount: | $2 million
|
| Maturity: | Six months
|
| Coupon: | 11%
|
| Warrants: | No
|
| Investor: | TCA Global Credit Master Fund, LP
|
| Pricing date: | Aug. 31
|
| Settlement date: | Sept. 25 (for $300,000)
|
| Stock symbol: | OTCBB: PUNKD
|
| Stock price: | $1.14 at close Sept. 24
|
| Market capitalization: | $50.51 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
